Payroll is generally one of the most important components of a company’s operating expenses. In service sectors, such as hotels and restaurants, payroll is generally the largest component. It is natural that, in times of scarcity, companies seek a reduction in temporary costs to survive. Sometimes these adjustments become permanent, generating greater profits for owners and investors.
This economic halt we are experiencing today is serving as an excuse for many companies to make cuts and adjustments. Since March, massive layoffs have been reported across the country in excess of 346,000. In Quintana Roo, official figures reach almost 64,000 people, being the entity with the most registered layoffs. (more…)
Competitive Intelligence? What’s competitive intelligence? According to Wikipedia, “Competitive intelligence (CI) is the action of defining, gathering, analyzing, and distributing intelligence about products, customers, competitors and any aspect of the environment needed to support executives and managers in making strategic decisions for an organization.“
For the day to day, it means understanding what your competitors, direct and indirect are doing, how big their war chest is, whom they’re hiring, and then trying to figure out how you can outcompete them based on your realities. Competitive intelligence is an ongoing process. It is about accumulating relevant knowledge that your entire executive team can implement into the overall company strategy. (more…)
What is at stake, some may ask. Everything, we negotiate every day, knowingly or not. Be it about the added sugar in your coffee, whether you can borrow a buck from your friends, or if someone can lend you a pen. When it comes to business, you negotiate contracts, term sheets, employment agreements. (more…)
Back in 2018 I was presenting to the Chief Marketing Officer of Fujitsu on my human centered design innovation process. It worked great for digital products and MVPs but somehow it wasn’t landing. At about the halfway point of the presentation, the CMO asked a straightforward question. “How do I create the next iPhone?” I had no idea. What happened next was a series of questions that I believe led me to unearth at least a portion of Apple’s product innovation guidelines. If I’m right let me know, if I’m wrong, also let me know.
It all started with this: (more…)
As a founder, you should be keeping track of milestones, performance, sales and everything else that’s going on with your company, but you’re busy, being pulled in twenty different ways, you have to fundraise, you’re running all sales and marketing, it’s overwhelming. How can you make sure the company is healthy aside from just your MAUs, DAUs, retention, and sales going up. How can you benchmark your startup’s operating performance? (more…)
The Lean Startup model seems to be present everywhere you turn these days. As with any methodology that seeks to improve the success rate of young companies, it is welcome, and especially true when the new enterprise is needed more than ever to add kindling to the economic fire. However, after reading the book, I’m going to give you all this Lean Startup Book Review in a TL;DR. Eric Ries is largely selling 336 pages of obvious, while simultaneously making assumptions that would be effective in only a handful of startups, and surely not in an across-the-board situation as advertised.
As with any management ideology, there is of course both the good and the bad, so how’s about we take a quick look-see. (more…)